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Summary of the March 2021 ASAF meeting now available

  • ASAF meeting (mid blue) Image

27 Apr 2021

The IASB staff have published a summary of the Accounting Standards Advisory Forum (ASAF) meeting held via remote participation on 18 - 19 March 2021.

The topics covered during the meeting were the following (numbers in brackets are references to the corresponding paragraphs of the summary):

  • Primary financial statements (1–27): The ASAF members discussed the plan to redeliberate the project proposals in the light of the feedback on the exposure draft published in December 2019. Proposals the Board plans to redeliberate include subtotals and categories, management performance measures as well as disaggregation.
  • Agenda consultation (28–44): The ASAF members discussed the main areas of the forthcoming request for information and possible outreach activities .
  • Management commentary (45–60): The staff introduced the forthcoming exposure draft and ASAF members shared tentative outreach plans for their jurisdictions.
  • Post-implementation review of IFRS 9 (61–64): ASAF members shared their views on the application of the classification and measurement requirements in IFRS 9 and on matters that they think the Board should consider as part of the post-implementation review of these requirements.
  • Post-implementation review of IFRS 10, IFRS 11 and IFRS 12 (65–80): ASAF members shared their initial views and comments they had received on the matters in the Request for Information on the post-implementation review of IFRS 10, IFRS 11 and IFRS 12.
  • Extractive activities (81–100): ASAF members discussed the Board's plans to determine the scope and direction of any project on extractive activities.
  • Project update and agenda planning (101–105): The ASAF members discussed the Board’s current work plan and planned topics for the June 2021 ASAF meeting. They also questioned whether the IASB should continue to provide written updates about the Board’s work plan at ASAF meetings.

A full summary of the meeting is available on the IASB's website.

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